Wizz Air CEO calls supply chain disruption "horrific" amid growth hindrances

During his speech at the summit, Váradi emphasized the severity of supply chain disruptions: "That was simply the worst that could have happened to this industry." He also highlighted other significant events impacting strategy: COVID-19 and Middle East conflicts.

Váradi noted COVID-19 initially reduced passenger numbers but later benefited Wizz Air's market strategy. The airline expanded into new markets like London Gatwick and Albania and strengthened its presence in Italy. He said, "With the benefit of hindsight, I would say that COVID was a good thing for Wizz Air."

He further explained how low-cost airlines' financial stability positioned them well post-COVID. "Thanks to their 'financial capacity to act,' the low-cost model is better suited," he argued.

Geopolitical tensions such as Russia-Ukraine and Israel-Hamas conflicts significantly affected operations. Váradi mentioned that before these conflicts, around 13% of capacity was allocated in Ukraine and Russia and about 10% in the Middle East.

Despite challenges from pandemics, geopolitical tensions, and grounded aircrafts due to P&W issues over three years led Wizz Air says “over the last three years, 50% of our capacity got grounded.” The airline aims to transport 75 million passengers this year and expand its fleet for future growth.